Most investors would probably agree that the sooner the US election is over – the better!
It's just another distraction investors have to deal with, and as highlighted here, the outcome of the election is unlikely to have a major bearing on the day-to-day operations of most companies listed on the ASX.
Although the markets may remain volatile until investors take time to digest the result, I think now could be a great time to consider the types of shares that could do well once the markets return to 'normal'.
With that in mind, here are three shares that I would consider buying with $6,000:
Star Entertainment Group Ltd (ASX: SGR)
Star Entertainment shares have surprisingly underperformed Crown Resorts Ltd (ASX: CWN) shares since mid-October, even though the company has not been associated directly with the arrests of Crown's employees in China. While it would be naïve to believe that Star Entertainment's VIP business will be unaffected by recent events, I believe the sell-off has been overdone especially when you consider the quality of the company's assets and the development program that is currently being undertaken.
ResMed Inc. (CHESS) (ASX: RMD)
Shares of ResMed have been whacked in the lead up to the US election and on the back of slightly weaker-than-expected first quarter results. The impact from these events is temporary in my opinion and I think ResMed is extremely well placed to prosper from the ever-growing demand for sleep disorder treatments. The company is now also enjoying a nice level of margin expansion thanks to its recent Brightree acquisition and improvements in its manufacturing process.
Aveo Group (ASX: AOG)
Unlike other operators in the aged care sector who generate their revenue by providing care and support services, Aveo Group generates most of its income through property management fees. The company is also currently in the process of significantly diversifying its revenue base through an ambitious retirement unit development program. Although Aveo might not be the most exciting company on the ASX, investors can be fairly confident with the company's growth outlook as earnings per share are expected to grow at around 7.5% over each of the next two years.
